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Safeguard Scientifics made $57 million from Mastercard's latest acquisition

Michelle Caffrey
Safeguard Scientifics made $57 million from Mastercard's latest acquisition

Mastercard's recently completed acquisition of an online bill payment company brought in $57 million for Radnor-based Safeguard Scientifics, the investment firm announced Friday. The deal, which represents a 3.4-times cash-on-cash return, comes as Safeguard's in the process of winding down operations and monetizing its investments across what's now 18 remaining portfolio companies. Including the Transactics deal, Safeguard's now realized in $180 million in cash from portfolio company transactions since announcing a new strategy in January 2018 that included slashing its staff, halting investments in new portfolio companies and monetizing current stakes to return cash to shareholders.